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Strategies & Market Trends : Ride the Tiger with CD

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To: dara who wrote (301052)	10/7/2023 1:28:18 PM
From: dara	5 Recommendations Read Replies (1) of 312311

COTS as of October 3, 2023 The US$ takes a breather after a 12 week rally Adding to last week's move, the commercials decreased their net short positions in silver and gold. See here and here and here. Gold is below its 300 dma and is in oversold territory. The HUI is outperforming gold and had a nice candle on Friday. This divergence use to indicate a bottom in gold. Will it now? Silver's move was similar to the HUI. Copper was also similar to silver and the HUI. Following last week's pullback, WTIC continued its correction down to $82. Natgas continued moving upward and has entered overbought territory. The US$ and the 10 year yield had a slight pullback. The US$ has had a spectacular 12 week rally. (I've posted both the daily and weekly charts for the US$.) The DOW, SPX, QQQ and the TSX all look to be consolidating after a downward move with the TSX looking the most positive. The MACD and RSI in the indices are interesting. Will they cross into positive territory and bounce, is the question? Ed Steer's comments: " ... So the set-up for a major rally in gold from a COMEX futures market perspective is baked in the cake -- and is just about as extreme as it is in silver." "All we await now is the event that will be allowed to set it off because, as I keep saying, when this price management scheme is finally allowed to breath its last, it won't be in a news vacuum." "We're locked and loaded more than we've ever been -- and it's now just a waiting game. ..." Disaggregated futures and options - combined report: cftc.gov Legacy Report: Futures Only Commodity Exchange Incorporated: cftc.gov

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